By 2020: 50% of the World's Electric Vehicles will be in China

World | December 12, 2017, Tuesday // 16:12| Views: | Comments: 0
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Bulgaria: By 2020: 50% of the World's Electric Vehicles will be in China Source: Pixabay

The future of electric cars depends on China, and the situation will be impressive before the end of this decade - half of the world's electric vehicles are expected to move on the China road network by 2020.

This is the result of a study conducted by the American consulting company AlixPartners, quoted by Automedia.bg.

It is also expected, around 2020, that almost half of the plug-in hybrids planned for production will be produced by Chinese companies. There is some conditionality here as it is about companies that are already producing hybrids or at least have a meaningful business plan or have secured investments. In particular, 49 out of 103 verified hybrid manufacturers are or will be Chinese companies.

And third, China will dominate the production of lithium-ion batteries by 2021, accounting for two-thirds of this production, which is extremely important for the development of electric vehicles. At present, 96% of plug-in hybrids that are sold in China are produced there, which is no surprise given that foreign environmental vehicles simply do not receive state subsidies and discounts.

According to the results of the AlixPartners study, it is to be expected that in 2025 on the world market there will be parity between electric cars and those with internal combustion engines.

Serious consolidation of Chinese hybrid and electric vehicle manufacturers is also expected, as it is hard to expect that over 50 such companies will survive in a single market. And the state power in China has already begun to suggest that just consolidating the market will be the next step, but before that certain quota of electric vehicles and hybrids to be present on the local market must be achieved.

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